By Mail	Complete the application and mail it with your check payable to: Northeast Investors Trust, 100 High Street, Boston, MA 02110.
By Telephone	If you are a shareholder in Northeast Investors Trust, you may purchase shares at the current day's closing net asset value by telephoning the Trust prior to the close of the New York Stock Exchange (normally 4:00 p.m. EST). Call 800-225-6704. Northeast Investors Trust will not accept telephone purchases in excess of $50,000. Your payment must be received within 14 calender days of the transaction.
	If you place an order to purchase shares and your payment is not received within 14 calender days, your transaction will be canceled and you will be prohibited from placing orders in the future unless such orders are accompanied with payment. You may be responsible for any losses or fees the Trust may have incurred as a result. Telephone purchases may dilute the future appreciation of the net asset value if payment is not made promptly.
By Exchange	Shareholders of Northeast Investors Growth may exchange their shares for shares of Northeast Investors Trust by telephone or letter on any business day prior to the close of the New York Stock Exchange. In the event of such an exchange, the registration and social security number or taxpayer identification number in the new Northeast Investors Trust account must be identical to that of the existing Growth Fund account.
	Please note that exchanges may have tax consequences for you. Before exchanging into the Trust, please read its prospectus.

Redemptions

Shares must be redeemed by written request. The written request must be signed as the account is registered. A signature guarantee is required for any redemption exceeding $10,000. Download our Trust Fund Prospectus for details.

Explanation of Signature Guarantee

The requirement of a signature guarantee of an endorser is standard in the securities business. Its chief purpose is to authenticate the signature, thereby protecting your account from unauthorized redemptions. The guarantee also carries with it certain statutory warranties upon which we rely. Only a person who has been formally authorized to do so may execute a signature guarantee on behalf of his employer.

Acceptable Signature Guarantors	Unacceptable Signature Guarantors
A bank or trust company A credit union Savings and loan association or savings bank Securities broker or dealer Member firm of a recognized stock exchange Securities exchange or association Securities clearing agency	A notary public A witness, verification, endorsement or certification by a bank